Legal Question in Real Estate Law in Wisconsin

I am stuck buying 2 homes one in Indiana and the other in wisconsin I live in wisconsin at present time and have been unable to sell the house in Indiana. I cannot afford both houses. If one goes into foreclosure can I keep one of them??

Asked on 7/04/12, 8:50 am

1 Answer from Attorneys

JAY Nixon nixon law offices

The answer might possibly be "yes," since in WI, foreclosures of residential first mortgages on a person's primary residence usually only seek title to the property in favor of the bank. In return for a speedier ride through the court system, WI banks therefore usually waive their right to sue such a homeowner personally. Although I am not familiar with Indiana law, at least the WI foreclosure might not result in personal judgment against you, rather than against your property only. Such personal deficiency judgments are sometimes capable of being enforced against other property which you own, such as your other residence in IN. However, if no personal judgment against you results from the WI foreclosure, you might be able to keep your IL home, even following foreclosure of the WI home. You need to pose your question to an experienced IN attorney to see of the reverse is true. You should also be represented by a WI attorney who is experienced in foreclosure and bankruptcy matters in order to advise you on whether or not my guess here might be accurate. Please be aware that my responses to you in the public web forum do not make me your attorney and that I am not representing you or taking any action on your case. These answers are intended for public educational use only and may also contain lawyer advertising materials. Regardless of this, however, you are still welcome to contact me during business hours at my in Racine if you still have questions, or see me on the web at For a list of my other answers on Law Guru, please see my profile link here at

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Answered on 7/05/12, 5:35 am

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